SAN FRANCISCO-Locally based Prologis Inc. today revealed the closing of Prologis U.S. Logistics Venture, a $1-billion joint venture with Norges Bank Investment Management, manager of the Norwegian Government Pension Fund Global. As GlobeSt.com reported in December, the venture acquired a 12.8-million-square foot stabilized portfolio comprising 66 logistics facilities formerly owned by Prologis.
The venture may grow through acquiring strategic portfolios in target markets and, where appropriate, properties that complement the existing asset base.
“The extension of our partnership with Norges Bank speaks to our shared long-term investment perspective,” notes Eugene F. Reilly, chief executive officer, Prologis Americas. “This venture underscores the strength of the U.S. industrial market and the investment potential of our high-quality portfolio.”
As GlobeSt.com previously reported, the new entity (USLV) is structured as a 55/45 venturewith 55% owned by Prologis and 45% by Norges Bank Investment Management (NBIM).
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
